Uber Earns $3.5 Billion Valuation with Investments by Google Ventures and TPG
Uber has a lot of believers in the investment community, and there was apparently a lot of elbows flying as the monied folk competed to get in on the hot startup with the $3.5 billion valuation. Uber regulatory battles doesn’t seem to put a brake on investor interest.
Excerpt from All Things D
According to a Delaware filing by Uber Technologies, it has sold stock in the fast-growing privately held transportation service to private equity giant TPG. In addition, according to sources who have seen other stock documents, Uber has also taken a major investment from Google Ventures.
The overall valuation for the San Francisco company, according to the August 1 document, and also sources, is $3.5 billion. Though pricey, the latest scramble to be in the Uber funding round was apparently very competitive. Sources said Google won the investment because of direct intervention by CEO Larry Page, who met with Uber CEO Travis Kalanick.